Bitcoin Cash is a peer-to-peer electronic cash system that is not controlled by any central authority. It is a decentralized digital currency that is not issued by a government, bank, or company. Instead, the currency is supported by its users and miners, who also record payments. The cryptocurrency can be exchanged for other currencies and held as an investment.
Coinbase users can sell or "cash-out" their bitcoins in exchange for dollars, which can then be transferred to their bank accounts. Coinbase makes money by charging a fee for every transaction made using the platform. More than 18 million bitcoins are currently in circulation and each is worth about $35k, according to Coinmarketcap.
Accepting Bitcoin Cash is cheaper
Bitcoin Cash is a cryptocurrency that is cheaper to accept than Bitcoin. It is also faster to send and has lower transaction fees. Accepting Bitcoin Cash can save you money and time. A lot of businesses accept Bitcoin Cash in return for the services they provide. It's just as easy to trade between BTC and BCH as it is between dollars and euros in your bank account.
There are no limitations regarding what you can and can't buy, unlike some fiat-to-crypto gateways where you can't purchase items that are illegal or would expose the platform to regulatory risk. You have access to an enormous catalog of goods and services to choose from. It's a practical solution to make sure that you have access to goods and services without using other unstable currencies. Cryptocurrencies are decentralized, the exact opposite of government fiat currencies that are used to set up credit.
Bitcoin Cash is faster
Many businesses are hesitant to accept Bitcoin Cash at their business, but there are many reasons why they should. Bitcoin Cash is faster, more secure, and cheaper than Bitcoin. Most people think that Bitcoin is cheap to use, but the transaction fees can be up to $20. That means a pizza for $30 might cost you around $50 when you pay with your bitcoins.
With a higher transaction fee, business owners will be less likely to accept Bitcoin as a payment method. Right now, the transaction fees are more expensive than using PayPal or credit cards, and that doesn’t look like it will change anytime soon. That is because there aren't enough miners.
The problem is that Bitcoin transaction fees have been rising in recent years, from $0.20 per transaction at the beginning of 2017 to $2.83 as of August 2018. Even more shocking: PayPal charges a $0.05 transaction fee, which is still nearly a hundred times less than Bitcoin.
Bitcoin transaction fees are starting to come down thanks to SegWit and Bitcoin Cash adoption. The median fee dropped from $7.68 to $4.45 in the past few weeks and dropped a further 12% today. At this rate, in another month or two, fees will drop below $1 for the first time ever! but that not guarantee
- Bitcoin Cash is safer
Bitcoin Cash is safe as long as you store your coins in a wallet that is properly secured. Make sure to use the most secure options available, like hardware or paper wallets.
Bitcoin Cash is a fork of Bitcoin, and it has a number of features that make it more suitable for use in commerce. It has a larger block size of 8 MB, in comparison to Bitcoin’s 1 MB. This makes transactions faster. It also removes SegWit, which was implemented in August 2017 in an attempt to improve Bitcoin’s scalability.
However, it also has negative implications for blockchain security, and thus BCH was born. BCH also uses Bitcoin’s original mining algorithm, Proof of Work (PoW), rather than adopting the alternative, Proof of Stake (PoS ), which was chosen by ETH’s developers.
PoS provides that mining and validating transactions on the blockchain should be undertaken by those with an interest in maintaining and securing the network, i.e. those who hold a stake in it. This stands in stark contrast to PoW, which requires large amounts of computing power and is not dependent on the holding of the currency, and is the principal mechanism used by Bitcoin. Okay, this is out of line!
